Nationwide customers should put £100 into one of these accounts NOW to get a bonus this

Nationwide Building Society customers keen to ensure they would be eligible for a £100 payout via its Fairer Share Payment scheme in 2025 – if it happens for a third year in a row – should take steps now to ensure they do not miss out.

Last year, a total £385million was paid to 3.85million Nationwide members, up from £340million for 3.4million members the year before. 

The building society is yet to release details of its 2025 scheme, but for the last couple of years, certain eligibility criteria have applied. 

To qualify for the payout, members typically need a qualifying active Nationwide current account, plus either a qualifying Nationwide savings account, or cash Isa – or a Nationwide mortgage. 

In the last two years, to qualify, customers needed to have had at least £100 in a Nationwide savings account or a cash Isa ‘at the end of any day in March’. 

So, customers with a Nationwide current account should act now to ensure they have at least £100 in their savings account or cash Isa at some point next month. 

For a mortgage, there needs to be at least £100 owed on it. 

Take steps now: Nationwide members need to check if they have at least £100 in their savings account

Nationwide current accounts

For the current account to be eligible, based on last year’s rules, it needs to be active and used in the first three months of this year. It has to be open by 31 March at the latest. 

To date, the current accounts deemed eligible have included FlexPlus, FlexOne, FlexStudent, FlexGraduate, FlexAccount, FlexDirect and FlexBasic. 

Different eligibility criteria apply depending on the current account in question. 

For FlexAccount, FlexDirect or FlexBasic current accounts, in two out of three months of January 2025, February 2025 and March 2025, you are likely to need to receive at least £500 into your current account. Transfers in from other Nationwide accounts do not count.

In addition, customers with a FlexAccount, FlexDirect or FlexBasic current account are also likely to need to make at least two payments out of their current account in the first three months of this year. 

Alternatively, customers with a FlexAccount, FlexDirect or FlexBasic current account could qualify by making at least 10 payments out of the current account in two out of three months of January 2025, February 2025 and March 2025. 

FlexPlus customers have to have paid their account fees, while FlexOne, FlexStudent or FlexGraduate had to have made one payment in or out in March.

Nationwide savings accounts

Previously, to get the Fairer Share payment, you also had to have at least £100 in a Nationwide savings account.

This means that Nationwide current account customers should make sure they have at least £100 in a separate savings account with the building society.

Last year, Nationwide said: ‘You will have had qualifying savings if you had at least £100 in total in one or more personal savings accounts or cash Isas with Nationwide at the end of any day in March 2024.’

A list of Nationwide’s savings accounts can be found here. Accounts that should qualify include Instant Access Saver, Flex Instant Saver, FlexOne Saver, Flex Regular Saver and its suite of cash Isas.

What about joint accounts?

Thoose with joint accounts have received £100 each as Fairer Share payments in the past.

On joint current accounts, Nationwide said last year: ‘If there is more than one account holder, each of you will be a member of Nationwide, so these terms and conditions apply to each of you individually. 

‘This means that if a qualifying current account, or qualifying mortgage is in joint names, the product and the whole of any balance will count towards each individual’s eligibility for the payment.

‘For example, if you hold both a qualifying current account and a qualifying mortgage jointly with someone else, you will both be eligible to receive the payment.’

On joint savings accounts, Nationwide said last year: ‘Qualifying savings will take account of the whole of any savings and cash Isa balances you hold in your sole name and those you hold jointly.’ 

Going by the past two years, Nationwide checks who is eligible for the payout at the end of March and those who are eligible will be contacted by the end of May. 

The payments are usually made in June. 

Nationwide is currently offering a £175 cash bribe to new customers who switch to one of its current accounts, meaning new Nationwide customers could stand to make £275 between now and June 2025, if the Fairer Share scheme runs as it has for the last couple of years.

The building society previously confirmed that Virgin Money’s customers will not be eligible for any fairer share payment going forward. 

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